The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of.In the event Buyer fails to obtain Seller's approval, this Agreement shall be terminated with the Buyer's Earnest Money being returned within five (5) business. A purchase and sale agreement is a contract that details the responsibilities of the buyer and seller during a real estate transaction. Streamline your real estate transactions in New York with our purchase agreement. Ensure legal compliance and confidently purchase or sell properties. When signed, this document becomes a binding contract. Buyer and seller should consult their own attorney.